Tex. Fin. Code § 347.505 · Subchapter K. CREDITOR'S LIABILITY; PENALTIES
PENALTY FOR FAILURE TO REGISTER.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) The commissioner may impose a penalty not to exceed $50 for failure to register as required by Section 347.451(a).
(b) The commissioner may impose a penalty not to exceed $250 for failure to renew an existing registration and submit the appropriate fee before the expiration of the period described by Section 347.451(d).
(c) The penalties provided by this section are the exclusive penalties for a violation of Section 347.451.
(d) The fact that a creditor was not registered as required by Section 347.451 when a contract was executed does not:
(1) render a contract invalid or unenforceable if the contract is otherwise enforceable; or
(2) subject the creditor to liability under any other law, including common law, other than the liability established by this section.
Notes and commentary — not statutory text
History
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/FI/htm/FI.347.htm
- Text hash
- sha256 d10b5164058cacbb52fc0caa567f6d70bce325b1340d370014c8a1bc0fdcce49
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
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